Running a business can be a challenge, and there are plenty of things that you’ll have to keep in mind while overseeing your workers, hardware, and software. Thankfully, there are many processes which can be automated, making your life simpler and ensuring that you won’t have to take on additional employees. In this blog post, you’re going to learn what is license compliance management.

Further automating tasks in the workplace can go a long way towards saving you money and in more than one way. Over the course of this short guide, we’re going to discuss the details of license compliance management, and we’ll take a look at the license management software that makes it possible.

We’re going to use a three-pronged approach so that you can get the most out of this article. The first thing that we’re going to look at is what a software license is in the first place. We’ll then go over the importance of keeping software licenses up to date, and how license management software can help you ensure that those licenses stay valid.

What is License Compliance Management: A Complete Guide

What is a Software License?

When selling software, there are a few different payment methods that a developer can choose from, and a traditional one-time fee may not be suitable for a program that is going to be kept updated. A software license is a way to ensure that a customer has paid for the right to use a piece of software.

Software licenses will often expire after a limited time, and that period can range from a year to a month long, depending on the software and the type of subscription that a business has. As you would imagine, ensuring that software licenses are kept valid across the board is a massive concern for businesses.

The Importance of Keeping Software Licenses Up to Date

There are several reasons why a business will want to keep every single software license valid for their employees, and there are a few possible repercussions, depending on the license. Some licenses will still allow you to use the program after they expire, but if you are caught doing business with an expired one, you may be subject to fines.

Other software licenses will lock the program once they expire, which can deprive a business of a crucial tool at an inopportune time. There are quite a few ways to stay apprised of the status of multiple software licenses, but the best option is licensing tracking software.

The Importance of License Tracking Software

Specialized programs which track a business’ software licenses are known as license tracking software, and they can help ensure that no license goes unnoticed when it expires. From reminders to alerts, these programs can do more than a dedicated employee to ensure that there is no downtime when it comes to software licenses.

Conclusion

As you can see, license compliance management is a more complicated matter than many would expect, but we hope that we’ve been able to boil it down to the essentials.